Zhongbai Group (000759)： Deducting non-net profit in 2018

Zhongbai Group (000759): Deducting non-net profit in 2018

Results review The 2018 results are in line with expectations. The 2018 results announced by Zhongbai Group: Operating income 152.

08,000 yuan, previously unchanged; net profit attributable to the parent company4.

310,000 yuan, an increase of 537 in ten years.

06%, corresponding to a profit of 0.

63 yuan, in line with expectations.

After deducting non-profit, the net profit was 29.46 million yuan, which turned into a loss for many years.

By quarter, 18Q1 / Q2 / Q3 / Q4 revenue growth rates were +1 respectively.

2% / + 2.

1% / + 3.

6% /-6.

3%, net profit growth was -83% / + 1433% / + 238% / + 40%, Q4 adjustment is related to the replacement of store closures and overall consumption growth.

　　Development trend 1, revenue ends flat for two years.

In terms of business types, 1) Supermarket business: 10 years of revenue +0.

48%, mainly driven by the growth of new stores and comparable stores. In terms of store efficiency, the revenue of comparable stores in Hubei / Zhongbai Storage Chongqing / Zhongbai Supermarket was +2 respectively.

69% /-9.

48% / + 0.


The main companies in the report promoted the upgrading of fresh products, developed new formats such as standard supermarkets and convenience stores, and also improved their online operation capabilities; 2) Department store business: gradually revenue for ten years.

92% comparable store same store-6.

61% of the report, the high-end department store segment focused on reducing losses in single stores, and promoted 深圳桑拿网 the transformation of internal management mechanisms to increase store vitality.

As for the layout of outlets, the total number of outlets at the end of the year was 1,255, a net increase of 125 from the end of 2017, which resulted in 187/62 outlets being added / closed.

In 2019, the company plans to add 215 outlets, of which 15/50/30/120 hypermarkets / Zhongbai Supermarket stores / Zhongbai Haobang stores / convenience stores, respectively.

　　2. Profitability has improved.

Every time the gross profit margin increases by 0.

7ppt to 22.

5%, in which the gross profit margin of the supermarket / department store format is +0 each.

37 / + 1.

At 82ppt, the profitability of comparable stores in various industries has improved. We expect to benefit mainly from alternatives 南京夜网论坛 such as supply chain optimization and industry optimization.

The sales expense rate is +0 per year.

3ppt to 18.

1%, short-term management expense ratio -0.

2ppt to 3.

1%, the financial expense ratio is zero in ten years.

2ppt to 0.


Net profit margin increased significantly.

4ppt to 2.

8%, the main factor company Zhongbai Warehousing Road Lions Road storehouse demolition compensation increased the current period net profit4.2.7 billion, net profit after deduction was 29.46 million yuan, a net decrease of 4739 compared to the same period last year.

70,000 yuan realized a loss.

　　3. Pay attention to store adjustment benefits and new retail progress.

In 2019, the company will continue to promote store upgrades, optimize the supply chain and increase store operation efficiency.

At the same time, the company actively strengthened its new retail layout.

By the end of 2018, 495 stores had launched multi-point home services, and gradually realized breakthroughs in online transactions.

200 million US dollars (mainly for third-party platforms such as JD.com and Daojia); the cumulative number of registered WeChat mini-programs in the warehouse supermarket exceeded 1.33 million and the total transaction amount was 1.

2.3 billion.

Follow-up attention to store adjustments and new retail progress.

　　Earnings forecast remains unchanged from 2018 / 19e earnings forecast of 0.


23 yuan unchanged.

　　Estimates and recommendations currently correspond to 19 times 35 times P / E.

Maintain neutrality, and raise target price by 10% to 7 based on fundamental improvement.

15 yuan, corresponding to 19 times 37 times price-earnings ratio, there is room for growth of 8%.

　　Risk consumption continued to be sluggish; industry competition intensified.

CUHK (600704)： Steady growth in performance strengthens supply chain integration service advantages

CUHK (600704): Steady growth in performance strengthens supply chain integration service advantages

The company announced its semi-annual report for 2019, with steady growth in performance and improved operating cash flow.

19H1 company realized operating income of 1601.

18 billion (+22.

39%), net profit attributable to mother 16.

01 billion (+28.

14%), deducting non-attributed net profit13.

2.6 billion (+135.

03%), the main factor for non-recurring gains and losses was the transfer of the company’s property environment to Jiangxi Haihui to realize investment income2.

93 billion.

If you do not take into account the emergence of new accounting standards in 20192.

With a gain of 0.8 billion in fair value changes, the company’s 2019H1 net income of non-returned mothers11.

18 billion 杭州夜网论坛 (+98.


In terms of cash flow, the company’s 19H1 operating cash flow net -33.

6.1 billion, with a score of 19Q1-43.

3.1 billion gradually improved.

Actively implement “Circulation 4.

0 “business model, increase resource integration, market development, model innovation, supply chain integration service scale, and increase profitability.

In terms of metals, the steel business won new bids for Hangzhou-Ningbo Expressway Double Line, Guangzhou Rail Transit Line 13 and other key projects, and explored overseas markets such as the Philippines, Vietnam, and South America. The cable business won new bids for Shanghai National Convention and Exhibition Center, Hangzhou Asian Games Stadium, and Xiamen Metro.Zhengzhou Metro and other landmark projects.

In terms of energy, it has obtained Zhejiang Province’s first crude oil non-state trade import qualification; the Zhejiang International Oil and Gas Exchange Center, which was led by the Zhoushan Municipal Government, promoted the optimization of equity structure.

In terms of chemical industry, Jilin’s corn “planting + insurance + futures” agricultural industrialization, Xiaoshan Xiangsheng, Zhoushan soybean crushing, Haining warp knitting, Jiabao Chemical, Ningbo Jinyuan, Aoge Rui tire, Boyuan cassette gas and other large supply chainsIntegrated service projects have started one after another.

Non-public approval was granted, mixed reforms were accelerated, and the advantages of integrated supply chain services were further enhanced.

Company 38.

1.5 billion non-public has been approved by the China Securities Regulatory Commission on July 16. The raised funds will be used for supply chain integration service projects (cable intelligent manufacturing base, automotive smart new retail platform, and urban rail transit integration services).Data center construction projects and supplementary liquidity have further enhanced the company’s supply chain integration service advantages.

In addition, the company continued to promote the reform of mixed ownership. In the first half of the year, five companies were added to complete the “secondary mixed reform”, all of which adopted a two-tiered limited partnership model to achieve full coverage of the dynamic adjustment mechanism.

We raise the company’s net profit attributable to mothers for 2019/20/21 to 29.



30,000 yuan (original 27.



08), EPS0.



93 yuan, corresponding to the current price of PE 7.



6x, maintain “Buy” rating. Risk warning: trade war intensifies, commodity prices fluctuate sharply, asset disposal and other non-economic changes

How can you be a little more than a thin person？

How can you be a little more than a thin person?

Excessively thin people want to be full of emotions are often as urgent as dieters.

How can I have a full body?

　　Moderate exercise, body and body, the first step is not suitable for sports?

The gym instructor who has a fitness body and body skills believes that the thin person participates in moderate exercise and has a great interest in the body.

To make the body full and full of charm, thin people may wish to choose swimming, aerobics, push-ups and other sports.

In addition, the ladies do not hinder the adoption of two other effective body movements at home: chest exercise and stomach exercise.

　　The coach of the chest exercise gym thinks that the chest exercise is repeated with the arms on the chest, and the tension is the main one. It can exercise the muscle lines of the chest part, and it can also help the chest to be firm and firm.

　　Exercise 1: Lift your head and chest, hold two dumbbells or two water bottles filled with water in the left and right hands, and extend your arms straight to the chest, horizontally with your shoulders, then move horizontally toward the left and right sides.Until the angle is 180°, return to the original position and repeat 5 times.

　　Exercise 2: On an empty stomach, on the bed, the legs are naturally straight, and after taking a deep breath, bend your knees up and hold your legs with both hands so that the thighs are as close as possible to the abdomen.

After a few seconds, relax your legs and change back to the original condition, doing it 5 times.

　　Skillful eating, for the body to help make the thin body become healthy and plump is the beauty of thin women.

Some people mistakenly think that it is quite wrong to make “skinny” into “fat”, that is, to achieve the beauty of the body, so blindly eating a lot.

Many women not only do not have “beauty”, but instead suffer from chronic diseases because they “eat too much.”

　　What is the correct diet?

Nutrition experts and gym instructors agree that thin women can follow the following dietary methods to help the body look good.

　　Eating less and eating more is an important way to gain weight.

The thinners are mainly weak in the stomach and intestines. Eating too much at a meal often causes gastrointestinal indigestion.

You can increase the number of meals to 4, 5 or more, but it must be moderate, so as to avoid excessive weight gain and suffering from obesity, it will not be worth the loss.

　　When you are eating rich nutrients, you don’t have to be as jealous as obese people. Choose a nutritious food to satisfy your appetite: Eat more protein, traces, vitamins and minerals such as lean meat, fish, dairy products.Vegetables, fruits, soy products, honey, nuts, etc.

But be careful not to eat too much crude fiber food.

The fiber contained in the food will swell and swell during the passage through the digestive tract, increasing the volume of the food and slowing down the speed of the upper digestive tract and the small intestine, so it is easy to cause satiety and reduce food intake.

A woman with a thin body drinks a cup of orange juice at rest, which helps the stomach to provide more stomach acid and effectively promotes digestion and absorption of food.

Do not do housework or work immediately after using the meal. You should sit down or lie down for a while, at least half an hour before you can start working.

　　Enjoy the joy of snacks In addition to the distance, the thin women still eat some snacks and enjoy the joy of snacks.

Usually, you can put some snacks containing certain concentrations, such as biscuits, jellies, potato chips, mung bean cakes, sausages, whole milk powder, chocolate, etc., in the place where you can reach them.

When you eat orange, orange and other fruits, and add juice in the whole milk powder, it can help the body to deliver more content.

　　During the nighttime eating, some short-term storage of fat is taken at night. Because of the weak ability of the body to break down during sleep, eating cakes before going to bed, high-protein snacks such as ice cream and sesame cake are better than eating food during the day.

Nutritionists reminded that it is not appropriate to eat too much at night, otherwise it will increase the burden on the stomach, which is not conducive to health and sleep, and has no side effects for the body.

　　Sleeping a good quality body for a thin person, a reasonable sleep is conducive to the beauty of the body shape.

The sleep stage is an important period for the formation of human energy, and it is also a period of abnormal growth of “growth hormone” that promotes muscle growth. Guaranteed sleep quality at night is a prelude to full bodybuilding.

　　How can I sleep a good quality body?

Before going to sleep, you may wish to drink a cup of milk or eat a boiled egg, so you can calm your nerves and nourish your sleep.

After going to bed, you can slowly take a few deep breaths, and gradually turn the brain’s chaotic and active thinking into calm.

In addition, taking a hot bath or soaking your feet with hot water before going to bed can also relieve sleepiness, help the human body to smoothly enter the dream, and make necessary preparations for the body.

Ten people and nine hemorrhoids send you ten dietary prescriptions

Ten people and nine hemorrhoids send you ten dietary prescriptions

As the saying goes, “Ten people with nine hemorrhoids”, it can be seen that the incidence of hemorrhoids is very high. Hemorrhoids are a common disease in the prostate area, which poses a great threat to daily life.What about the treatment?

The following Chinese medicine introduces ten dietary treatments for treating hemorrhoids, let’s take a look!

1. Fungus soup: Wash 30 grams of black fungus and add boiled soup with 60 grams of sugar.

1 bowl per serving.

For internal and external hemorrhoids, blood in the stool and pain in the anus.

2. Anchovy soup: Take 200 grams of yellow croaker meat, and add water scallion soup with appropriate amount of spring onion, ginger, cooking wine and salt.

For internal hemorrhoid bleeding, qi deficiency and prolapse.

3. Persimmon soup: Take 2-4 pieces of persimmon and add water to boil and serve.

2 times a day.

Suitable for hemorrhoids bleeding.

4, fig soup: take 2 figs, decoction or fasting raw food.

Take 2 times a day, you can take food as much as you like.

Suitable for those who suffer from hemorrhoids, swelling, pain and bleeding.

5. Wonton soup: Wash 500 grams of fresh lotus root, add 90 grams of brown sugar and an appropriate amount of water.

Bring to a boil for about 60 minutes.

Drink once or in a row, for 3 consecutive days.

Also take 120 grams of fresh pimple, suitable for hemorrhoid bleeding.

6, Sophora flavescens egg soup: 60 grams of water decoction of Sophora flavescens, boiled with 2 eggs, eat egg soup, once a day.

Suitable for hemorrhoids bleeding.
7, mulberry porridge: 100 grams of mulberry frying water for juice, add 100 grams of glutinous rice to make porridge.

Once a day, it is suitable for those who have blood under the hemorrhoids and who are irritable and thin.

8. Xanthium congee: Fried 15 grams of Xanthium sauerkraut with simmered heat, add 200ml decoction of water to 100ml, remove residue, put 150g of initial rice, add 400ml of water to cook for thin porridge.

Take 2 times a day.

With hemorrhoids.

Do not take long.

9, 熘 fat intestine: 500 grams of pig’s large intestine washed, divided into 芫荽 100 grams will be divided into tight.

Add the intestines to the pot, add water and cook until the seven are ripe, remove the coriander and slice.

Then stir-fry in the usual way, season and serve.

Suitable for hemorrhoids, blood in the stool, and spleen deficiency.

10. Huaihua beef spleen soup: Wash and cut 250 grams of beef spleen into small pieces, add 15 grams of Huaihua into the pot, and add water simmering soup.

Take the spleen and drink soup once a day.

It is suitable for those who suffer from hemorrhoid pain, lower blood and spleen deficiency.

Eat more coarse grains to stay away from gastric cancer

Eat more “coarse grains” to stay away from gastric cancer

Experts point out that coarse grains have not only become an essential nutrient for the body, but also can prevent a variety of cancers.
　　Whole grains include foods such as nuts, corn, and cereals that are rich in fiber-rich complex carbohydrates.
　　The cellulose content of these foods is high, which can stimulate the gastrointestinal tract and promote defecation after entering the body, thereby reducing the absorption of carcinogens by the intestine and preventing the occurrence of colorectal cancer.
　　Coarse grains are also rich in calcium, magnesium, selenium and other trace elements and a variety of vitamins, which can promote metabolism, increase physical fitness, and delay aging.
Among them, selenium is also an anti-cancer substance, which can be combined with various carcinogens in the body and excreted through the digestive tract.
　　The lack of plant fiber in food is one of the important reasons for the increasing number of cardiovascular and cerebrovascular diseases and cancer in recent years, and dietary fiber can prevent colon cancer, intestinal diverticulosis, and so on.
　　The anti-cancer principle of plant fiber lies in the function of “cleaning the intestine”, which can promote intestinal peristalsis, shorten the time for intestinal contents to pass, and reduce the possibility of carcinogens being absorbed by the human body.
In addition, protein, fat, carbohydrates and other three nutrient excesses are also cancer-promoting factors, which are often caused by endocrine-related cancers.
　　Studies have shown that a high-fiber diet in coarse grains can hinder the absorption of these three nutrients, reduce it, and effectively prevent cancer.
　　All kinds of grain are originally sources of dietary fiber, but due to the impact of processing, especially the finer the grain processing, the more fiber loss, so we have to eat brown rice, coarse noodles and miscellaneous grains, and even some bran.
　　Experts also reminded that eating coarse grains should be done fresh. On the one hand, fresh coarse grains are rich in nutrients, and on the other hand, fresh coarse grains are not easily polluted by aflatoxin.
Jiuzhi’s coarse grains are prone to mildew, which not only prevents cancer, but aflatoxin may also induce newborns. After three shots of the vaccine, antibodies can be produced half a year, and there is no need to vaccinate until the middle school.

Proper use of massage chairs

Proper use of massage chairs

Core tip: Today, there are a lot more types of massage chairs than there were a few years ago, and the prices are also different: the most expensive imported massage chairs are 1.

60,000 yuan, low-priced domestic massage chairs are about 2,000 to 3,000 yuan.

　　Today, there are many more types of massage chairs than there were a few years ago, and the prices vary: imported massage chairs are the most expensive.


Sitting on a massage chair, can it really achieve the effect of massage?

　　The principle of the massage chair is to use the rolling force of the mechanical force and the squeeze of the mechanical force to perform the massage.

Artificial massage can clear the meridians, circulate qi and blood, and maintain the balance of yin and yang of the body. Therefore, after massage, you can feel the muscles relax, the joints are flexible, it can stimulate people’s spirit, eliminate fatigue, and play an important role in ensuring physical health.

For normal people, artificial massage can enhance the body’s natural disease resistance and achieve health effects.

　　However, the massage chair’s mechanical massage is different from manual massage. Although the massage chair has several alignments, it cannot select acupoints, point acupuncture, and perform similar movements as artificial massage, but only imitate people’s “kneading” and “pinching” movements.

Therefore, the massage chair can only eliminate fatigue, lighten up, lighten up, improve the relaxation effect, there will be no healing effect, and its strength is not easy to control, when the strength is small, the effect is small, when the strength is high, it will cause muscle pain.

　　In addition, some people are not suitable to use massage chairs: First, patients with cardiac hypertension and osteoporosis.

Because massage speeds up the blood circulation of the human body, it can easily lead to the onset of hypertension and high blood pressure patients; while osteoporosis is due to lack of calcium and other reasons, it is easy to cause bones to become brittle, the massage force is large, and it is particularly easy to cause fractures.

The second is patients with local skin damage, ulcers, bleeding, tuberculosis, and tumors.

The third is people who are hungry, full, full of alcohol or tired.

　　Other precautions when using a massage chair: 1. When using a massage chair, you must relax carefully. In addition to focusing on your mind, you must be calm and not nervous.

　　Second, use the massage chair to adjust the intensity of the chair massage, because too little force does not provide the stimulating effect that is too large, it is easy to cause fatigue, and damage the skin, the strength and frequency of the massage should be from small to large, from light to heavy.

　　Third, use the massage chair to master the massage time, it is advisable to use 20 minutes each time, it is best to use it in the morning and evening, such as after getting up in the morning and before going to bed.

In addition, Dr. Ding said that the most important thing when choosing a massage chair is to choose according to your physical fitness and refer to the product characteristics of the manufacturer, which varies from person to person.

Elderly breakfast food, not greedy

Elderly breakfast food, not greedy

The elderly have a decline in their spleen and stomach function, and are often accompanied by chronic diseases. Therefore, the elderly’s breakfast should be paid special attention.

　　Professor Li Yuehua, director of the Xiyuan Hospital Geriatrics Center, reminded that when you wake up in the morning, the nighttime yin is not removed, the indoor and outdoor temperatures have not risen, and the muscles and blood vessels in the body are in a contracted state. At this time, eat iced milk, ice milk, cold buns,The first-class cool food is too different from the body temperature, resulting in more severe contraction of various systems in the body, poor blood flow, gradual stimulation of the implant, increasing the burden of digestion and digestion, reducing digestive function, causing functional dysfunction and causing the gastrointestinal tract.Disease, damage to stomach, constipation, diarrhea, cold, fatigue and other symptoms, and even worsen the symptoms of cardiovascular disease such as high blood pressure, coronary heart disease, digestive tract disease.

　　Chinese medicine believes that “the stomach is warm and aversion to cold”, eat hot food for breakfast, to protect the stomach, add yang, such as milk, soy milk, hot porridge, hot buns, wolfberry, tofu brain, etc., you can also add some lotus seeds in the porridge, red dates, yam and other products to nourish qi and blood, promote spleen and stomach function.

In addition, the elderly receive appropriate amount of warm boiled water after morning, and then eat after moderate activities, for constipation, neurasthenia, indigestion and other diseases, also have the role of adjuvant therapy.

Dietitian recommends healthy eating schedule

Dietitian recommends healthy eating schedule

A scientific diet plan should consider both what to eat and what time to eat.

Marcy Anderson, a registered dietitian in Cambridge, Massachusetts, says that if you want to reach the goal of being awake in the morning, excited during the day, and sleepy at night, learn how to choose food.

　　7:00 am goal: eat full.

　　Eating breakfast within 1 hour after waking up can help improve your metabolism and improve your health.

Research from the University of Missouri in the United States shows that breakfast should pay attention to a small amount of protein and protein balance, such as adding some peanuts and substitutes in oatmeal, and also eating whole wheat bread, dairy products and fruits.

　　Early 9 o’clock goal: to improve work focus.

　　Drinking a cup of coffee at this chip can increase your excitement and increase your concentration.

If you want to take a drink with a reduced caffeine content, green tea is a good choice. It also contains antioxidants that promote brain cell production, improve memory and improve learning.

In addition, chewing gum can also achieve a certain refreshing effect.

　　11 o’clock?
12-point goal: alleviate obesity.

　　Anderson suggested that you can drink a low-fat yogurt at this time, which contains 15?
20 grams of protein will make you feel full, then choose a suitable lunch.

In addition to the combination of staple food and vegetables, it is recommended to eat spinach, zucchini, etc., which contains vitamin B6 to help the brain generate stable emotional neurotransmitters, reduce stress; you can use magnesium leafy vegetables to relax blood vessels and muscles.

　　3 pm target: prevent physical fitness decline.

　　At this point it is recommended to eat a little nuts (such as almonds, walnuts or walnuts) or energy bars made from whole grains.

Research published in the American Journal of Clinical Nutrition shows that eating nuts in moderation can also cause a slight decrease in body weight.

　　5 pm?
7-point goal: Provide exercise energy.

　　If you want to exercise after work, it is best to eat some digestible proteases around 5 o’clock to quickly replenish energy and prevent obesity, such as a cup of yogurt and substitutes.

If you have dinner normally, you should control the energy absorption of the dinner. You can add a little dried chili or pepper to the dinner to increase the conversion and burning.

Research from Purdue University in the United States shows that the heat produced by capsaicin accelerates metabolism and controls appetite.

　　10 pm goal: help to sleep.

　　If you always feel that you are having difficulty falling asleep, first ask if you have a sense of drought before going to bed. If so, it is recommended to drink a cup of soy milk before going to bed.

It contains vitamins that promote the production of tryptophan, which helps sleep.

In addition, the calcium contained in the soy milk relaxes the blood vessels and therefore reduces additional sedation.